Spinnova Acquires Woodspin and Suzano Finland Shares
Spinnova has signed binding agreements to purchase all Woodspin and Suzano Finland shares from Suzano S.A. for EUR 2. These acquisitions provide full ownership of Woodspin and Suzano Finland, enabling Spinnova to produce wood-based SPINNOVA fiber.
Acquisition Details
- Suzano contributes EUR 5 million to Woodspin and Suzano Finland
- Operations at Woodspin temporarily halted
- Impairment loss recognized on Woodspin impacting 2025 results
Technology and Sustainability
Spinnova’s patented technology transforms wood pulp into fiber without harmful chemicals, reducing CO2 emissions and water use. The SPINNOVA fiber is biodegradable, recyclable, and has a natural feel.
For more information, contact Janne Poranen, CEO & Chair of the Board.
About Spinnova
Spinnova revolutionizes textile manufacturing with sustainable wood-based fiber production. Spinnova shares are listed on Nasdaq First North Growth Market Finland.
For further details: Spinnova Corporate IR Site
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